Developers will break ground on San Luis Ranch beginning in 2019.
According to a press release, the developers expect to break ground in the first quarter of 2019, and construction could begin starting in the third quarter of 2019.
Previously, developers had said construction would begin in 2020.
The San Luis Obispo City Council approved the Environmental Impact Report for the project in July. Once complete, it will be a 131-acre community featuring 580 residential homes, 150,000 square feet of commercial space, 100,000 square feet of office space, and a 200-room hotel.
The site is located between Madonna Road and Highway 101.
“San Luis Obispo desperately needs workforce housing and this new community will address that need,” said Coastal Community Builders’ President Gary Grossman. “San Luis Ranch will offer diverse housing opportunities, parks, and open space and an organic working farm where SLO locals can experience a true farm-to-table lifestyle. Our residents will have everything they need in one exceptional community.”
There will be single-family and multi-family homes. Developers say a significant number of homes will be affordable housing. Homes will feature environmentally friendly features, including solar panels, energy efficient appliances and lighting, and edible landscaping.
The press release says more than half of the community will be open space and agricultural land with an organic farm, community gardens, recreation, parks, and picnic areas. There will also be walking and bike lanes.
Presidio Residential Capital and Coastal Community Builders are partners in the development.
The press release says adding 580 homes could generate $166.5 million in local income, $164.4 million in taxes and other revenue for local governments and 2,285 local jobs.